China to invest in Africa in three years

China to invest in Africa in three years

Lagos – The Chinese Government has expressed readiness to invest N2.16 trillion ($60 billion) in Africa in the next three years.
PRESIDENT MUHAMMADU BUHARI PARTICIPATES IN A ROUNDTABLE MEETING AT THE FORUM ON CHINA-AFRICA COOPERATION IN BEIJING, CHINA. TUESDAY, SEPTEMBER 4, 2018.
The Consul-General of the People’s Republic of China in Lagos, Mr Chao Xiaoliang disclosed this in a post-summit article entitled, “FOCAC Beijing Summit: A New Milestone in China-Africa Relations”.

Chao said the new investment drive was one of the outcomes of the just concluded summit of the Forum on China-Africa Cooperation(FOCAC).

He said China would also in the next three collaborate with African countries in industrial promotion, infrastructure connectivity, trade
facilitation, green development, capacity building, healthcare, people-to-people, peace and security.

“President Xi Jinping has announced that China will launch eight major initiatives in close collaboration with African countries in the next three years.

“The eight initiatives are in areas of industrial promotion, infrastructure connectivity, trade facilitation, green development,
capacity building, health care, people-to-people, peace and security.

“To make sure these eight initiatives are implemented, China will extend 60 billion U.S. dollars (N2.16 trillion) financing to Africa in
different forms which includes 15 billion U.S. dollars (N5.4 trillion) grants, interest-free loans and concessional loans.

“China will also encourage Chinese companies to invest more than 10 billion U.S. dollars (N3.6 trillion) in Africa in the coming three years,’’ he said.
According to him, China and African countries are destined to be good friends, good brothers and good partners.

Chao said that the Chinese government had also planned to set up ten Luban vocational workshops and an China-Africa innovation cooperation centres for youth innovation and entrepreneurship in Africa.

“There will also be a tailor-made programme to train 1000 Africans, as well as offer of 50,000 government scholarships to Africans.

“There will also be training opportunities for 50, 000 Africans through workshops and seminars and 2000 exchange opportunities for African youth,’’ he said.

Chao said the Summit was attended by President Muhammadu Buhari, 49 other Heads of State and Government, African Union (AU) Commission’s Chairperson and more than 240 Ministerial representatives from 53 African countries.

The consul-general said the meeting between Presidents Xi Jinping and Muhammadu Buhari at the summit, ended with the signing of more bilateral cooperation agreements between China and Nigeria.

He added: “We are confident that the FOCAC Beijing Summit and the meeting between the two Presidents will bring new opportunities for the comprehensive development of China-Nigeria strategic partnership.

“FOCAC Beijing Summit has set a new milestone for China-Africa relations. China with Nigeria and other African countries are ready to join hands to build a China-Africa community.

“A community with a shared future that features joint responsibility, win-win cooperation, happiness for all, common cultural prosperity,
common security, and harmonious co-existence.’’ (NAN)

Related

LeBron James reveals a surprise at Harlem's Fashion Row showcase

LeBron James Strongest Sneaker Photo Credit: Instagram @harlemfashionrow) Tags: fashion, Harlem Fashion Row, Lebron James, new york fashion week, Nike Cassidy Sparks I am a blogger, journalist and media…

You can finally visit — or just grab lunch at — the African American Museum without a ticket

) [‘I wanted to come back and take my time’: Visitors to African American Museum cheer no need for passes] Those of us who cannot take the day off work, though, can spend our lunch breaks exploring…

Ebony Fashion Fair: Defining African-Americans in Fashion

The Ebony Fashion Fair fashion show was established in 1958 by the Johnson Publishing Company under the close management of Eunice Walker Johnson, wife and co-founder of Johnson Publishing Company and…

Fashion week highlights: Models with disabilities, Scott sends message to Kavanaugh | Lifestyles

(AP Photo/Diane Bondareff) Diane Bondareff Fashion Harlem Fashion Row x Nike Basketball star LeBron James, holds his daughter Zhuri, as he accepts the Harlem Fashion Row's ICON 360 Award for his contribution…

For R175, this glass lift in Mpumalanga will take you down into a lush forest — with a massive gorge and hidden waterfalls

The Graskop gorge lift is Africa's first viewing elevator, according to one of its developers, CEO of the Graskop Gorge Lift Company (GGLC), Oupa Pilane. Also from Business Insider South Africa:Wealthy…

adesuwa, the girl who’s captured fashion’s imagination

In the face of a messy, exhausting, so-shocking-it’s-no-longer-shocking world that most are responding to with detached irony, Adesuwa emits an irresistible sense of aliveness, a willingness to call…

China says African countries don't think cooperation adds to debt

Chinese Premier Li Keqiang and Prime Minister of Lesotho, Thomas Motsoahae Thabane listen to their national anthems during a welcoming ceremony inside the Great Hall of the People in Beijing, China September…

China to invest  in Africa in three years

Chao said the Summit was attended by President Muhammadu Buhari, 49 other Heads of State and Government, African Union (AU) Commission’s Chairperson and more than 240 Ministerial representatives from…

Naig: African Swine Fever Cases in China Highlight Importance of Biosecurity, Vigilance by Iowa Farmers – Mix  KIOW

The Iowa Department of Agriculture and Land Stewardship and the Iowa Pork Producers Association are encouraging pork producers to be on the lookout for clinical signs of the disease and to contact their…

South African distributor lands in A/NZ with back-up plan for partners

"So in a nutshell, we take on Datto because we are faster to deploy, no hardware required, fully hybrid, scalable in requirements, completely compliant for any industry or company size, lower price structure…